Pensions Dashboards Programme Market Engagement Webinar 7 th July - PowerPoint PPT Presentation

Pensions Dashboards Programme Market Engagement Webinar 7 th July 2020 Raman Dhaliwal, David Reid, Rahat Khalil Please ask any questions in the Q&A box pensionsdashboardsprogramme.org.uk

PDP Background Aim of the Pensions Dashboards: Enable individuals to access their pensions information online, securely and all in one place, thereby supporting better planning for retirement The aim of the and growing financial wellbeing. Pensions Dashboards The Government set out its position on the delivery of Pensions Programme (PDP) is Dashboards in its response to the consultation in April 2019 stating to connect individuals that: with their pensions by ❑ Government will legislate to compel pension providers and creating the central schemes to provide people's pension information to them via dashboards; and architecture to enable ❑ The Money and Pensions Service (MaPS) will have responsibility for the Pensions Dashboards delivering the digital architecture, working with industry. to operate. It also set some overarching design principles around: ❑ Putting the individual at the heart of the process; ❑ Ensuring individuals’ data is secure, accurate and simple to understand; and ❑ Ensuring that the individual is always in control over who has access to their data. 2

Proposed digital architecture – overview of the Ecosystem DASHBOARD DASHBOARD DASHBOARD MaPS PROVIDER PROVIDER PROVIDER DASHBOARD DASHBOARD DASHBOARD MaPS DASHBOARD Find request and GOVERNANCE response to dashboard REGISTER Pensions PENSION information CONSENT AND IDENTITY FINDER flows AUTHORISATION SERVICE SERVICE Find request Key Response – register with consent and authorisation server MaPS Dashboard - MaPS INTEGRATED SERVICE STATE PENSION Digital Architecture - PDP PENSION SCHEME PROVIDER PENSIONS PROVIDER Dashboards/Pension Providers and PENSION Schemes - Industry PENSION SCHEME PROVIDER State Pension - DWP Ecosystem Governance Framework Regulators Government (Technical, security, design, accessibility, performance and user MaPS TPR & DWP & experience standards) - PDP to set Information and FCA HMT and monitor Guidance Services

Where are we now Indicative Programme Phases 4

Objectives of Market Engagement • Brief suppliers and pensions industry organisations interested in the future digital architecture Process: procurement opportunity for a Pension Finder Service • The PDP issued a market and Governance Register. engagement notice to raise awareness in the wider market of a potential future procurement • Engage with suppliers to identify the technical exercise to procure the requirements components presently available within the marketplace, for a Pension Finder Service and to help inform the development of the digital Governance Register which form a architecture requirements. part of the proposed central digital architecture. • Receive feedback from suppliers on how they propose • Suppliers are being invited to complete a Request for Information to meet key aspects of the requirements. Questionnaire as part of this process. This will allow us to identify the readiness, capacity and capability of potential suppliers prior to undertaking a formal competitive procurement exercise. 5

Next Steps Market engagement concludes 31 July 2020 • Review responses – August 2020 • Advise route to market for PFS and Governance • Register – Sept / Oct 2020 Commence IDV market engagement – Nov 2020 • Commence procurement – Autumn 2020 • 6

Q&A session 7

Appendix: Diagrams 8

Components and User Interaction 9

User Journey Find Pensions 10